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Over the last one year, shares of this Zacks Rank #5 (Strong Sell) stock recorded a negative return of 2.14%, as against the negative return of 5.86% provided by the Zacks classified Photo Equipment & Supplies industry.
The industry, within which Fujifilm conducts business, is subject to certain market headwinds. For instance, appreciation of the Japanese currency, stiff industry rivalry and the highly dynamic technology market continue to pose challenges to Fujifilm.
Inside the Headlines
Net income for the quarter was ¥43.4 billion ($396.6 million), up 15.9% year over year. Quarterly earnings per American Depositary Receipt (“ADR”) was 89 cents, up 34.8% year over year.
Revenues
Revenues were down 5.4% year over year to ¥582 billion ($5,319.6 million).
Revenues from the Imaging Solutions segment – 17.7% of the total revenue – came in at ¥103.1billion ($942.9 million). The Information Solutions segment contributed ¥225.1 billion ($2,057.5 million) or 38.7% of the total revenue, while the Document Solutions segment generated ¥253.7 billion ($2,319.2 million) or 43.6% of the total revenue.
Of the total revenue, domestic revenues accounted for 40.4%; while international revenues made up the remaining 59.6%.
Costs/Margins
Gross margin in the fiscal third quarter was 40.4%, down 10 basis points (bps) year over year. Selling, general and administrative (SG&A) and R&D expenses were ¥184.3 billion ($1,685 million) or 31.7% of the total revenue.
Balance Sheet
Fujifilm exited the fiscal third quarter with cash and cash equivalents of ¥643.7 billion ($5,501.8 million), up 7.1% from the figure recorded as of Mar 31, 2016. The company’s long-term debt was ¥232.1 billion ($1,984.1 million), down 25.2% year over year.
Cash Flow
Exiting the fiscal third quarter, Fujifilm’s net cash from operating activities totaled ¥190 billion ($1,782.3 million), while its capital expenditure was ¥55.5 billion ($520.3 million).
Outlook
Going forward, Fujifilm intends to improve its financials through strategic innovations and business expansion. The company expects a 3.7% year-over-year decline in revenues to ¥2400 billion in fiscal 2017. Operating income is projected at ¥192 billion, reflecting a marginal rise of 0.4% from the fiscal 2016 level. Moreover, net income for fiscal 2017 is estimated to be down 9.2% year over year to ¥112 billion. This will result in earnings per share of ¥252.51.
Fujifilm Holdings Corp. Price, Consensus and EPS Surprise
Ballard Power Systems Inc. (BLDP - Free Report) currently carries a Zacks Rank #2 (Buy) and has an average earnings surprise of 12.50% for the trailing four quarters.
OSI Systems, Inc. (OSIS - Free Report) also holds a Zacks Rank #2 and has an average earnings surprise of 12.92% for the past four quarters.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>
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Fujifilm (FUJIY) Q3 Earnings Up Y/Y, Outlook Reaffirmed
Premium photographic image-product company, Fujifilm Holdings Corporation (FUJIY - Free Report) reported mixed results for third-quarter fiscal 2017 (ended Dec 31, 2016).
Over the last one year, shares of this Zacks Rank #5 (Strong Sell) stock recorded a negative return of 2.14%, as against the negative return of 5.86% provided by the Zacks classified Photo Equipment & Supplies industry.
The industry, within which Fujifilm conducts business, is subject to certain market headwinds. For instance, appreciation of the Japanese currency, stiff industry rivalry and the highly dynamic technology market continue to pose challenges to Fujifilm.
Inside the Headlines
Net income for the quarter was ¥43.4 billion ($396.6 million), up 15.9% year over year. Quarterly earnings per American Depositary Receipt (“ADR”) was 89 cents, up 34.8% year over year.
Revenues
Revenues were down 5.4% year over year to ¥582 billion ($5,319.6 million).
Revenues from the Imaging Solutions segment – 17.7% of the total revenue – came in at ¥103.1billion ($942.9 million). The Information Solutions segment contributed ¥225.1 billion ($2,057.5 million) or 38.7% of the total revenue, while the Document Solutions segment generated ¥253.7 billion ($2,319.2 million) or 43.6% of the total revenue.
Of the total revenue, domestic revenues accounted for 40.4%; while international revenues made up the remaining 59.6%.
Costs/Margins
Gross margin in the fiscal third quarter was 40.4%, down 10 basis points (bps) year over year. Selling, general and administrative (SG&A) and R&D expenses were ¥184.3 billion ($1,685 million) or 31.7% of the total revenue.
Balance Sheet
Fujifilm exited the fiscal third quarter with cash and cash equivalents of ¥643.7 billion ($5,501.8 million), up 7.1% from the figure recorded as of Mar 31, 2016. The company’s long-term debt was ¥232.1 billion ($1,984.1 million), down 25.2% year over year.
Cash Flow
Exiting the fiscal third quarter, Fujifilm’s net cash from operating activities totaled ¥190 billion ($1,782.3 million), while its capital expenditure was ¥55.5 billion ($520.3 million).
Outlook
Going forward, Fujifilm intends to improve its financials through strategic innovations and business expansion. The company expects a 3.7% year-over-year decline in revenues to ¥2400 billion in fiscal 2017. Operating income is projected at ¥192 billion, reflecting a marginal rise of 0.4% from the fiscal 2016 level. Moreover, net income for fiscal 2017 is estimated to be down 9.2% year over year to ¥112 billion. This will result in earnings per share of ¥252.51.
Fujifilm Holdings Corp. Price, Consensus and EPS Surprise
Fujifilm Holdings Corp. Price, Consensus and EPS Surprise | Fujifilm Holdings Corp. Quote
Stocks to Consider
Some better-ranked stocks within the industry are listed below:
Littelfuse, Inc. (LFUS - Free Report) has an average earnings surprise of 3.52% for the last four quarters and presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Ballard Power Systems Inc. (BLDP - Free Report) currently carries a Zacks Rank #2 (Buy) and has an average earnings surprise of 12.50% for the trailing four quarters.
OSI Systems, Inc. (OSIS - Free Report) also holds a Zacks Rank #2 and has an average earnings surprise of 12.92% for the past four quarters.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>